Verkkokauppa.com Oyj: Due to the Group structure, Verkkokauppa.com reports the parent company separately in accordance with Finnish Accounting Standards (FAS) – The Group is reported in accordance with IFRS

(VERK)   Report For more information, please contact: Mikko ForsellCFO, Verkkokauppa.com __EMAIL__el. +358 10 309 5555 Marja MäkinenHead of Investor Relations and Corporate CommunicationsVerkkokauppa.com EMAIL__el. +358 40 671 2999 Attachments: The unaudited interim bridge calculations in accordance with FAS from the parent company of Verkkokauppa.com's income statement and balance sheet for the full year of 2021.  IFRS 31 December 2021 FAS adjustments requirementFAS 31 December 2021Revenue574 513 965  574 513 965Other operating income921 848  921 848Materials and services-483 322 9533b)59 749-483 263 203Employee benefit expenses-36 570 4781b)1 538 289-35 032 189Depreciation and amortization-4 983 4392)3 649 630-1 333 809Other operating expenses-30 263 0771b), 2)-6 572 454-36 835 531Operating profit20 295 867 -1 324 78618 971 081Finance income5 629  5 629Finance costs-1 352 4472)1 197 715-154 732Net financial costs-1 346 818 1 197 715-149 102Profit before income taxes18 949 049 -127 07118 821 978Taxes in the accounting period-3 795 968  -3 795 968Taxes from current accounting periods261  261Income taxes-60 2055)60 2050Income taxes total-3 855 912 60 205-3 795 706Profit for the period15 093 138 -66 86615 026 272  IFRS balance on 31 December 2021 FAS adjustments requirementFAS balance on 31 December 2021Intangible assets    Property, plant and equipment1 363 597  1 363 597Right-of-use assets5 214 014  5 214 014Equity investments15 776 4592)-15 776 4590Deferred tax assets266 4843a)-265266 219Trade receivables1 289 1635)-1 289 1630Loan receivables3 816 537  3 816 537Receivables from companies of the same group, short-term   Other non-current receivables424 764  424 764Non-current assets, total28 151 019 -17 065 88711 085 132     Current assets    Inventories87 802 9633b)509 34188 312 304Trade receivables23 123 801  23 123 801Receivables from companies of the same group, long-term   Loans receivable    Other receivables3 699 415  3 699 415Income tax receivables    Accrued income8 627 205  8 627 205Cash and cash equivalents20 917 082  20 917 082Current assets, total144 170 466 509 341144 679 807     Total assets172 321 485 -16 556 546155 764 939     Equity    Share capital100 000 0100 000Treasury shares-1 610 6161c)11 173-1 599 443Invested unrestricted equity fund25 937 990 025 937 990Retained earnings-3 837 9361), 2), 3), 4), 5)3 114 194-723 742Profit for the period15 093 1381), 2), 3), 4), 5)-66 86615 026 272Total equity35 682 576 3 058 50138 741 077     Non-current liabilities    Lease liabilities16 104 8492)-16 104 8490Liabilities to credit institutions    Deferred tax liabilities    Liabilities to companies of the same group, long-term   Provisions895 743  895 743Non-current liabilities, total17 000 591 -16 104 849895 743     Current liabilities    Lease liabilities4 034 4772)-4 034 4770Liabilities to credit institutions    Advance payments received5 760 991  5 760 991Trade payables77 609 210  77 609 210Liabilities to companies of the same group, short-term   Other current liabilities10 717 9091a)-756 9679 960 942Accrued liabilities19 777 7271a), 2), 4)1 281 24621 058 973Income tax liabilities1 738 004 01 738 004Current liabilities, total119 638 319 -3 510 198116 128 120     Total liabilities136 638 910 -19 615 047117 023 863     Total equity and liabilities172 321 485 -16 556 546155 764 939 FAS notes Outlined below are the accounting policies that have had the most significant effects on the income statement, and statement of financial position statement of Verkkokauppa.com Oyj due to the adoption of FAS. 1. Changes in classification a) Classification changes related to the balance sheet. b) Voluntary personnel costs The company has presented in the IFRS financial statements that all personnel expenses included in employee benefits are presented as part of personnel expenses. In FAS, all voluntary personnel expenses are included in other business expenses. c) Own shares In previous years, the company has recorded transaction costs resulting from the acquisition cost of its own shares in equity as part of the IFRS acquisition cost of the shares. In FAS, the acquisition costs of the company's own shares are treated as expenses in the income statement. 2. Leases The company is, according to IFRS, the company must record in the balance sheet of all lease agreements the equivalent of the present value of the minimum rents at the beginning of the lease agreement asset and liability. The standard includes a practical aid for recording, according to which low-value and short-term (less than 12 months) leases may not be recorded. Verkkokauppa.com Corporation has decided to apply both means of assistance. Asset and liability based on leasehold the amount is calculated by discounting future minimum rents. With the processing according to IFRS The rental expense shown in the FAS is compensated by depreciation of the asset. In addition, it is recorded the interest expenses of the lease debt, which are presented in the financial expenses of the income statement. As far as lease agreement payments have been allocated to accrued liabilities, they have been transferred as part of the lease agreement debt. In FAS, the income statement records the costs of leases according to the passage of time to other business expenses. At the end of the accounting period, the rental obligations are reported on the balance sheet as external items as part of liability commitments. 3. Financial instruments a) Classification of equity investments at fair value through other comprehensive income IFRS requires the classification of financial assets based on the business model. The company is IFRS evaluated the business model of equity investments and made an irrevocable decision classify the equity investments in question at fair value through other comprehensive income. In FAS, the company treats investments initially at acquisition cost. According to IFRS, changes in the fair value of investments are recorded in other comprehensive income. Equity in connection with the transfer of conditional investments, related to accumulated other items of comprehensive income the included balance is transferred to retained earnings. b) Annual credits for inventory In accordance with IFRS, when determining the purchase costs of inventory, it is minus annual credits. In accordance with FAS, not all annual credits have been allocated to the acquisition cost of the inventory. In this regard, the company must adjust the book value of the warehouse and the book adjusted deferred taxes. In the income statement, the effect is reflected in the materials and services item, in the change of current assets and as a change in deferred taxes. 4. Other adjustments In 2021, Verkkokauppa.com had two share-based incentive plans for the CEO and members of the Management Team, the Matching Share Plan 2018–2020 and the Performance Matching Share Plan 2020–2022. In 2021, Verkkokauppa.com handed over the rewards according to the first commitment period of the Additional Share Program 2018–2020 in a directed free share issue. Share-based incentive plans has been classified in the IFRS reporting as an equity-settled transaction, because Verkkokauppa.com Oyj will deduct, on behalf of the employee, from the share award such number of shares which covers taxes and tax-like charges paid in cash. This equity-settled shared-based payment was measured at grant date fair value and recognized as an expense and in retained earnings during its validity period. In FAS, the share-based payment is recognized as an expense and accrued liabilities. 5. Deferred tax assets and liabilities The company has recorded an IFRS deferred tax asset related to lease agreements and inventory for correction. The company will not record deferred taxes for these items in the FAS financial statements. Distribution:Nasdaq HelsinkiMain media__URL Verkkokauppa.com empowers its customers to follow their passion by providing a wide product assortment of around 90,000 products. Verkkokauppa.com Oyj serves its retail and corporate customers through its webstore, megastores, kiosk and network of collection points as well as fast deliveries and various services. As Finland's most popular and most visited domestic online retailer, its deliveries cover around 75 percent of the Finnish population within the next day. The Company has four megastores: in Oulu, Pirkkala, Raisio, and Helsinki, where its headquarters is also located. Verkkokauppa.com employs more than 750 people and its shares are listed on the Nasdaq Helsinki stock exchange with the ticker VERK.
Sales 2022 553 M 587 M 587 M Net income 2022 1,81 M 1,92 M 1,92 M Net Debt 2022 20,7 M 22,0 M 22,0 M P/E ratio 2022 70,2x Yield 2022 4,81% Capitalization 133 M 141 M 141 M EV / Sales 2022 0,28x EV / Sales 2023 0,27x Nbr of Employees 761 Free-Float 57,2% Chart VERKKOKAUPPA.COM OYJ

Duration: Auto. 2 months 3 months 6 month 9 months 1 year 2years 5 years 10 years max. Mean consensus UNDERPERFORM Number 4 Last Close Price 2,95 EUR Average Target Price 2,93 EUR Spread/Average Target -0.85%